Pi Network is set to launch their new cryptocurrency to the world in several months time as 30 million people gear up for exchange listings and mass KYC verification with the developers holding their first A-M-A on YouTube.
PI NETWORK MAINNET GETS READY FOR LAUNCH
With over 30, possibly 40 million people now mining Pi Network on their mobile phones, the age of the next digital cryptocurrency is upon us.
Pi Network has been running since late 2018 and was created by several Stanford University lecturers and has now been described as the second largest cryptocurrency in the world behind Bitcoin
Pi lead developers, Dr Nicolas Kokkalis and Chengdiao Fan, took to YouTube yesterday to answer some of the community questions that have been asked about the project and what to expect from the Pi network Mainnet launch.
Over 70,000 to 100,000 nodes have now been added to the network, which is still running on its Mainnet test phase, an upgrade from the standard test network which has been running for 2 years.
The hype within the community hit fever pitch last month as it was announced that the first part of the Pi Mainnet launch had begun.
Google’s App store shows over 50 million downloads alone and this could easily be doubled on Apples App Store platform.
BIGGER THAN BITCOIN?
While many cryptocurrency’s can boast of a large userbase, Pi Network now has one of the largest in the world, with over 100,000 nodes expected to be reached in short order.
In comparison, just over 47,000 nodes currently run on the Bitcoin network, making the sheer size of Pi Network twice as large.
Nodes hold a full copy of the Pi Network (and Bitcoin) blockchain depending on which cryptocurrency you are involved with and the universal ledger system contains the complete transaction history for all previous transactions.
While Pi Network is not going to have a price anywhere near that of Bitcoin, many more miners can access Pi Network directly from their cell phone, with the userbase possibly exceeding that of Bitcoin already.
PI NETWORK SUPPLY ANNOUNCED
In a more recent Pi Network Mainnet update, the core team of developers announced that Pi would have a circulating supply of 100 Billion tokens and would be capped at that amount.
This supply of Pi coins would include the current amount already mined, estimated to be 21 Billion and a further 79 billion to continue over to Mainnet launch.
Of this 79 billion coins, 20% would be reserved for the development team and another 5% would be reserved for the liquidity pool.
This scale of launch preparation would compare it to projects such as Cardano and Algorand however as of yet the dev team have said no word on price or price predictions.
PI NETWORK PRICE COULD EXPLODE
With all the hype surrounding the Pi Network, its easy to see why the price of the coin could explode when it hits exchanges, hopefully in a couple of months, possibly the middle of 2022 at the latest.
Wild rumours have been floating around and suggest the networks coin price could be as low as $1 and as high as $314 dollars per coin.
Currently there are NO OFFICIAL PRICES for the coins and they remain at $0 for the time being.
DOXXED DEVELOPERS, NOT A SCAM AND FREE!
With all they hype around the Pi network Mainnet launch comes the obvious question of weather it is legitimate and this can be answered with a few simple questions.
Firstly the development team are publicly known, or doxxed, with both being regular faces and lecturers at Stanford University with Dr Kokkalis having a post doc in computer science from the University and teaching a course in developing blockchain decentralized applications.
The developers faces are also seen on the app (see the video above) and are public on the coins development website.
Secondly Pi is completely FREE and you will never have to pay for the App or pay to use the currency in any way.
Thirdly, the app utilizes KYC, or Know-Your-Customer, a secure method of verifying users who wish to withdraw their mined coins, currently through YOTI, and is developing its own Mass KYC solution for Mainnet launch.
Finally the strong community of decentralized app builders and users makes this one of the most exciting projects of the year.
Pi network is set to be one of the largest cryptocurrency launches of 2022 and could change the lives of millions of people and you can join in the fun by DOWNLOADING PI NETWORK AND INVITING YOUR FRIENDS! (remember to use invite code Vidello)
For more information on Pi Network and how you can maximise earning Pi Coins on the platform, please check out THIS ARTICLE